A look at companies that caught our eye in midday trading: Delta Air Lines — Shares fell about 4% after the company released its third-quarter sales growth forecast, which fell short of expectations. The company also reported that its second-quarter net income was down about 30% year over year. Shares of major airlines American Airlines and United Airlines also fell about 3.8% and 3.2%, respectively, following the results. MicroStrategy — Shares of the largest Bitcoin holder rose about 4% after the company announced a 1-for-10 stock split on Thursday “to make MicroStrategy shares more accessible to investors and employees.” WD-40 — Shares of the metal lubricant maker rose about 4%. WD-40 reported that third-quarter net sales were up 9% year over year to $155 million. The company’s gross profit also rose year over year. Costco Wholesale — Shares of the membership-based warehouse store fell 4.3%.The day before, the company announced its first membership fee hike since 2017. Costco will raise annual membership fees in the U.S. and Canada by $5 and the cost of its top membership by $10. QuantumScape — QuantumScape shares soared 30.5% after the company said Thursday it had signed a deal with Volkswagen’s battery division Powerco to mass-produce its solid-state battery technology for automakers. The deal replaces a previous venture between the two companies. SoundHound AI — Shares rose 6.4% after the company said it was releasing a voice assistant and that it was in production to be integrated into Stellantis car brands across Europe. Starting this month, the technology will be available for Peugeot, Opel and Vauxhall car brands. Conagra Brands — The food company’s shares fell 1.5% after Conagra reported fourth-quarter sales of $2.91 billion, below analysts’ expectations of $2.93 billion, according to FactSet. The company also issued soft guidance, saying full-year organic net sales would be flat after falling 1.5% year-over-year. Conagra also projected full-year adjusted profit, which missed Street expectations. Lantheus Holdings — Shares of the radiopharmaceutical diagnostics maker traded 16.4%, extending gains from the previous day’s trading. Shares surged nearly 37% on Wednesday after the Centers for Medicare and Medicaid Services proposed a rule to cover the costs of diagnostic radiopharmaceuticals. PepsiCo — The snack and beverage giant traded near flat after reporting mixed results for the second quarter. PepsiCo reported adjusted earnings per share of $2.28, beating the LSEG consensus estimate of $2.16. Revenue of $22.5 billion fell short of the $22.57 billion estimate. Tesla — Shares of the electric car maker fell 8.4% after Bloomberg News reported that the company plans to push back its robotaxi launch from August to October. Bloomberg reported, citing people familiar with the matter, that Tesla is delaying its big launch to allow the project team time to build more vehicle prototypes. Homebuilding stocks — The SPDR S&P Homebuilders ETF (XHB) surged 6% as the Consumer Price Index fell month-over-month in June, raising hopes of an interest rate cut by the Federal Reserve. Mohawk Industries and Builders First Source rose more than 7%, while DR Horton added 1.7%. SEMICONDUCTOR STOCK — Investors sold high-flying semiconductor stocks on Thursday, unloading some stocks. The VanEck Semiconductor ETF (SMH) fell 3.6%. Nvidia fell 5.6% and Advanced Micro Devices dropped 1.1%. — CNBC’s Alex Harring, Samantha Subin, Yun Lee, Lisa Kailai Han, Pia Xin, Tanaya Maciel and Darla Mercado contributed reporting.
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